Synopsis

Introduction to principles and techniques for modelling business and economic data. Modelling in business and finance using computers, spreadsheet modelling of business problems, organising and accessing data efficiently. Modelling in economics and finance, multiple regression as a tool for modelling macroeconomic and microeconomic decisions, elasticities and statistical evaluation of policy, time series modelling with application to finance. Introduction to Actuarial Studies as an approach to building quantitative models of risk.

Objectives

The learning goals associated with this unit are to:

apply principles and techniques of data management with computers and spreadsheet modelling to business and economic decision-making

interpret and evaluate relationships between variables using simple and multiple linear regression

apply statistical techniques for making decisions with quantitative and categorical data in business and economics.